41,900 positions added; jobless rate now at 3.2%

If you’ve wanted a job in Utah lately, chances are you’ve been able to find one. Utah’s nonfarm payroll employment has grown by 41,900 jobs since October 2015, dropping the current unemployment rate to 3.2 percent — down two-tenths of a point from September. The 3 percent growth in jobs means that Utah’s current employment level sits at 1,443,700.

Approximately 48,600 Utahns were unemployed in October and actively seeking work. The national unemployment rate dropped one-tenth of a percentage point from September to 4.9 percent.

“The creation of more than 40,000 jobs in Utah’s economy is an excellent way for the state to transition into the winter economy,” said Carrie Mayne, chief economist at the Department of Workforce Services. “In addition, the state continues to operate at a low level of unemployment, signaling the potential for sustained growth well into 2017.”

Nine of the 10 private sector industry groups measured in the establishment survey posted net job increases in October as compared to last year, while the natural resources and mining industry decreased by 1,200 positions. The largest private sector employment increases were in trade, transportation and utilities (9,500 jobs); education and health services (8,400 jobs); and financial activities (6,900 jobs). The fastest employment growth occurred in financial activities (8.5 percent), education and health services (4.5 percent) and other services (4.3 percent).